Vancouver, British Columbia--(Newsfile Corp. - March 21, 2017) - Astorius Resources Ltd. (TSXV: ASQ) ("Astorius") is pleased to announce the analytical results for eleven rock samples collected during its due diligence visit to the Osos 1 gold property in Ecuador in December, 2016.
Surface rock sampling carried out by Kinross in 2007 demonstrated very high levels of gold in veins on the property, and lower, but significant, levels of gold in the more extensive breccias also on the property.
Astorius' due diligence visit focused on underground sampling, now possible because of artisanal mining currently in progress on the property, in order to assess the continuity of gold mineralisation with depth.
On the basis of its December sampling and visual inspection of current mining, Astorius concludes the following:
- That the high grade gold veins identified by Kinross continue with depth and are sufficiently continuous horizontally to have been mined profitably by small-scale mining methods for a number of years (A 3.48kg composite sample of sulphide veins being mined immediately adjacent to the property yielded 25 g/t Au and 304 g/t Ag and a 0.44 kg sample of oxide ore taken within the property yielded a 252 g/t Au assay);
- That the scale of development of these gold veins may merit upscaleing of current artisanal mining to significantly larger conventional underground mining operations;
- That the breccias mapped at surface by Kinross are present at depth and carry significant levels of gold;
- That these breccias have the potential, as illustrated by breccias in similar geological settings, to be profitably mined by bulk open pit or underground methods;
- That detailed sampling and mapping of all underground workings on the property should be undertaken in preparation for a diamond drilling program targeting both high grade vein gold/silver mineralisation and lower grade disseminated gold mineralisation.
Table 1 below lists the results received by Astorius from the ALS Chemex laboratory in Vancouver for the eleven samples collected in December, together with the coordinates of the locations at which they were collected, the mass of sample submitted for analysis, and brief descriptions of the samples. A map showing the sampled locations has been published on the company's website (Figure 1 below). Photographs of samples EC01 and EC08 are also on the website. Gold levels above 1 g/t were determined gravimetrically (ALS method Au-GRA22), and below 1 g/t by ICP (method Au-ICP22). Silver levels above 100 g/t were determined by method Ag-OG62 (ICP finish for ore grades). All other levels reported were determined by the ME-ICP61 method (four acid digestion, ICP finish).
Astorius' 229 hectare Osos 1 mining concession lies within the El Oro province of southern Ecuador, 35 kilometers south-southeast of the port city of Machala and 10 kilometers southwest of Lumina Gold's Cangrejos Project. No drilling has to date taken place on the property. Access to the property is by paved and gravel roads.